Kingswood Wealth Advisors LLC Acquires 1,527 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Kingswood Wealth Advisors LLC increased its holdings in Texas Pacific Land Corporation by 38.1%, now owning a total of 5,536 shares valued at approximately $5.85 million.
• Texas Pacific Land's stock recently experienced a 3.5% increase and has a market capitalization of $22.49 billion, with current stock prices showing a 12-month low of $845.56 and a high of $1,769.14.
• The company announced a quarterly dividend of $1.60, representing an annualized payout of $6.40 and a dividend yield of 0.7%.

Kingswood Wealth Advisors LLC boosted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 38.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,536 shares of the financial services provider's stock after acquiring an additional 1,527 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Texas Pacific Land were worth $5,848,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TPL. Allworth Financial LP increased its stake in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after purchasing an additional 8 shares during the last quarter. Riversedge Advisors LLC grew its stake in Texas Pacific Land by 2.2% in the 1st quarter. Riversedge Advisors LLC now owns 370 shares of the financial services provider's stock valued at $490,000 after buying an additional 8 shares in the last quarter. Hemington Wealth Management grew its position in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Texas Pacific Land by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock valued at $2,773,000 after purchasing an additional 9 shares in the last quarter. Finally, CVA Family Office LLC grew its position in shares of Texas Pacific Land by 9.5% during the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock valued at $152,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Texas Pacific Land in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Insiders Place Their Bets

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the business's stock in a transaction on Thursday, August 21st. The shares were acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.90% of the company's stock.

Texas Pacific Land Stock Up 3.5%

Texas Pacific Land stock opened at $978.54 on Tuesday. The company has a market capitalization of $22.49 billion, a PE ratio of 48.78 and a beta of 1.12. The firm has a fifty day simple moving average of $921.07 and a two-hundred day simple moving average of $1,094.20. Texas Pacific Land Corporation has a twelve month low of $845.56 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's dividend payout ratio is 31.90%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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